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The purpose of this paper is to examine the general direction and pattern of modern economic and financial crimes statutes in Nigeria.
Abstract
Purpose
The purpose of this paper is to examine the general direction and pattern of modern economic and financial crimes statutes in Nigeria.
Design/methodology/approach
This paper examines Nigerian economic and financial crime statues.
Findings
This paper identifies the trend and features, which are common to all the statutes irrespective of economic and financial crime covered by them.
Originality/value
This paper shows that although Nigerian economic and financial crimes statutes have evolved gradually from Military era Decrees, and target different aspects of economic and financial crimes, there are certain features, which are common to all of them.
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The purpose of this paper is to examine corruption as the most ancient and common type of economic crime, and its significance in a developing country's progress. The paper seeks…
Abstract
Purpose
The purpose of this paper is to examine corruption as the most ancient and common type of economic crime, and its significance in a developing country's progress. The paper seeks to elaborate on why underdeveloped countries are more prone to corrupt acts and more open to investments by criminals. The paper attempts to answer the question whether such criminal activites can be controlled by developing societies and states in transition.
Design/methodology/approach
Research is based on relevant literature and empirical findings, approaching the issue from more than one theoretical point of view. The paper analyses the two faces of corruption when dealing with specific countries and inefficient governments. It discusses how corruption in the long term is damanging for the development of less‐developed states.
Findings
Corruption is not a localized crime but rather a crime without borders. Domestically it can only be controlled through state mechanisms and with the support of society and the media. Internationally it can be controlled with international cooperation and enforcement of bilateral regulations. This research concludes with the importance of global action in fighting economic crimes with destinations in developing countries.
Originality/value
This paper advances the academic debate on economic crimes and countries in transition in particular, while in general presents a more realistic approach to citizens, civil society, the independent media, and state officials themselves, who can have a crucial role in controlling corruption, hence economic crimes.
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Economic crime is too varied an activity to be explained by a single theory. Valuable insights are gained from theories that focus on individual characteristics and on the socio…
Abstract
Economic crime is too varied an activity to be explained by a single theory. Valuable insights are gained from theories that focus on individual characteristics and on the socio‐economic context of crime, but these theories are not sufficient explanations of economically motivated crime. They are usefully supplemented by legal responsiveness theory, which focuses on the capacity of the economic system to provide legal means to adapt to economic change. This theory acknowledges the insights of chaos and cellular automata theory into the inevitable and unpredictable nature of economic change. Variation in the system's capacity for legal responsiveness to unpredicted change is hypothesized to have an impact on crime. Economic crime can be an indication of dysfunction in the adaptation systems of the economy. The concepts of ecological and evolutionary economics such as stability, resilience, connectedness and adaptation offer an approach to analyzing the systemic property of legal responsiveness.
Terhi Kankaanranta and Vesa Muttilainen
The paper aims to analyse economic crimes in the construction industry with special reference to dealing in receipts. First, its purpose is to obtain knowledge on the extent of…
Abstract
Purpose
The paper aims to analyse economic crimes in the construction industry with special reference to dealing in receipts. First, its purpose is to obtain knowledge on the extent of economic crimes as well as dealing in receipts in the construction industry. Second, it seeks to find more detailed information about cases, suspects and companies involved with these crimes. Finally, it aims to assess financial losses to society.
Design/methodology/approach
This analysis is based on economic crime suspicions, which were recorded in the national police information system in 2007, and whose pre‐trial investigation was concluded before the end of March 2009. Open source information was utilized as well.
Findings
In 2007, there were 1,590 economic crime suspicions and one‐seventh was related to the construction industry. Results indicated that almost three‐quarters of the economic crimes in the construction industry were related to dealing in receipts. Aggravated forms of crimes were most common.
Originality/value
This is the first register‐based study analysing economic crimes in the Finnish construction industry. Also, internationally there are only a few studies focusing on the construction industry, even if it is one of the core areas of grey economy due to the high level of subcontracting.
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The purpose of this paper is to examine the question of whether corruption and economic crime can be controlled in developing economies and whether the cost of doing that can be…
Abstract
Purpose
The purpose of this paper is to examine the question of whether corruption and economic crime can be controlled in developing economies and whether the cost of doing that can be justified. It also explores the implications of corruption in the development of developing economies.
Design/methodology/approach
The paper reviews a range of published articles (1964‐2005), which offer theoretical and empirical research on corruption, economic crime and development. Themes discussed range from; the causes, implications, controls and the cost of controlling economic crime and corruption in developing economies.
Findings
Provides a critical analysis of the debate on corruption and economic crime in developing economies. The paper generally concludes that no single institution can be used to control corruption and economic crime and efforts to control these phenomena need to come from multiple fronts. The best way to tackle corruption in developing countries is through sector‐by‐sector control and that efforts to eliminate corruption are unlikely to be entirely successful in developing countries, not even in the developed countries.
Practical implications
The paper reminds developing countries to adopt measures that best suit their local circumstances in setting up anticorruption agencies/institutions while taking into consideration the borderless nature of crime – economic crime and corruption. Policy makers, especially in developing countries should re‐examine both local and international tools for combining economic crime and corruption to ensure development.
Originality/value
Although the paper argues along similar lines with the neo‐liberal approach to combating economic crime and corruption in developing countries, a major departure of this paper is that it proposes the need for a global effort to corruption and economic crime as a result of the increasing borderless nature of crime in this present age of information communication technology.
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Muzafar Shah Habibullah and A.H. Baharom
The purpose of this paper is to analyze the impact of economic conditions on various categories of criminal activities in Malaysia for the period 1973‐2003.
Abstract
Purpose
The purpose of this paper is to analyze the impact of economic conditions on various categories of criminal activities in Malaysia for the period 1973‐2003.
Design/methodology/approach
The autoregressive distributed lag bounds testing procedure was employed as the main tool. Dynamic ordinary least squares was also used to check the robustness of the results.
Findings
The results indicate that murder, armed robbery, rape, assault, daylight burglary, and motorcycle theft exhibit long‐run relationships with economic conditions, and the causal effect in all cases runs from economic conditions to crime rates and not vice versa. In the long‐run, strong economic performances have a positive impact on murder, rape, assault, daylight burglary, and motorcycle theft, while on the other hand, economic conditions have negative impact on armed robbery.
Research limitations/implications
Further researches using other macroeconomic variables and also other countries are encouraged.
Practical implications
The important implication of this result is that real gross national product per capita is an exogenous variable and it is, therefore, useful for fiscal policy variable. Government of the day should seriously consider the results of this study in any crimefighting policies that are formulated.
Originality/value
An economic viewpoint of criminal activities in Malaysia.
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Keywords
Andries P. Swanepoel and Jacolize Meiring
Economic crime is a serious challenge to business leaders, government officials and private individuals in South Africa. Given the important role of law enforcement, prosecution…
Abstract
Purpose
Economic crime is a serious challenge to business leaders, government officials and private individuals in South Africa. Given the important role of law enforcement, prosecution and sentencing in deterring economic crimes, the purpose of this paper is to determine if law enforcement, prosecution and sentencing practices are deemed to be adequate in South Africa.
Design/methodology/approach
Primary data from Web-based and manual questionnaires were used to empirically analyse the perceptions of sentenced economic crime offenders and role-players regarding the statement that law enforcement and prosecution practices of economic crimes relating to fraud, corruption or tax evasion in South Africa are not adequate. The final realised sample included a total of 345 from the various populations of key role-players and a total of 82 economic crime offenders from a Gauteng-based correctional institution. Mann–Whitney U tests were used to test for significant differences between the views of role-players and economic crime offenders.
Findings
The majority of both groups of respondents is of the opinion that law enforcement, prosecution and sentencing practices in South Africa are not adequate with regard to economic crime offences, although statistically significant differences exist in the degree of agreement. The challenge is therefore to prosecute more economic crime offenders by improving law enforcement, prosecution and sentencing practices. The study also revealed that people have a reluctance to speak out about fraud, corruption or tax evasion or to report such offences for various reasons.
Originality/value
The research assisted in identifying the challenges economic crime presents and the shortcomings in current law enforcement, prosecution and sentencing practices in South Africa.
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Keywords
Sani Abubakar Saddiq and Abu Sufian Abu Bakar
The purpose of the study is to investigate the impact of economic and financial crimes on the economies of emerging and developing countries.
Abstract
Purpose
The purpose of the study is to investigate the impact of economic and financial crimes on the economies of emerging and developing countries.
Design/methodology/approach
Preferred Reporting Items for Systematic review and Meta-Analysis (PRISMA) guidelines and meta-analysis of economics research reporting guidelines were used to conduct a quantitative synthesis of empirical evidence on the impact of economic and financial crimes in developing and emerging countries.
Findings
A total of 103 studies were searched, out of which 6 met the selection/eligibility criteria of this systematic review. The six selected studies indicated that economic and financial crimes have a negative impact in emerging and developing countries.
Originality/value
To the best knowledge of the authors, no published systematic review of the impact of economic and financial crimes in developing countries has been conducted to date.
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Soumyananda Dinda and Poulomi Khasnobis
This paper examines the role of institution in the combating crime in India. This study also assesses institutions for controlling property crime in India in the post-reform era.
Abstract
Purpose
This paper examines the role of institution in the combating crime in India. This study also assesses institutions for controlling property crime in India in the post-reform era.
Design/methodology/approach
Crime and socio-economic data are taken from National Crime Record Bureau and the Reserve Bank of India, respectively. Twenty major Indian states are selected for the study purpose for the period of 1994–2019. Fixed effect panel data technique is used for analysis purpose.
Findings
Property crime rate declines with economic growth, while it increases with financial development. Findings of fiscal policy instruments are different. Own tax is positively associated with property crime in India, while non-tax fiscal instruments such as fine, penalty, and so on, are inversely related to it. Property crime rate is inversely related to institutional factors like charge sheet and conviction rate.
Research limitations/implications
Further research is needed for other crimes in India. State-level data are used here for analysis purpose; however, spatial or cluster analysis techniques might provide more insights for combating crimes in India.
Practical implications
This study suggests that economic growth and fiscal instrument along with institutional development are essential to control property crime in India.
Social implications
Government should take steps to improve the law-and-order system to control property crime across states.
Originality/value
Impact of non-tax fiscal instrument reduces property crime while that of own tax is increases it in India. These findings are unique and added certain insight in the study. Institutional roles are captured its performances like charge sheet and convict rate, which are significantly reduce property crime in Indian states. Least square dummy variable model is applied to capture individual state effects.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2023-0063
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This paper aims to explain the regulations in Indonesia that apply to lawyers and other professional advisers in terms of their obligations as reporting parties of suspicious…
Abstract
Purpose
This paper aims to explain the regulations in Indonesia that apply to lawyers and other professional advisers in terms of their obligations as reporting parties of suspicious financial transactions with respect to money laundering and other financial crimes. As lawyers and other professional advisers offer services to the business community in Indonesia, they are vulnerable to becoming parties to illegal business transactions. The results could lead to bribery, graft, tax crime and corruption in Indonesia.
Design/methodology/approach
This paper explores and analyzes the obligations of lawyers and other professional advisers under Indonesian law, with particular reference to their obligations as reporting parties in efforts to prevent economic crime within the country’s business community.
Findings
Lawyers and other professional advisers, as reporting parties, can be viewed as the gatekeepers that inhibit economic and financial crimes. Consequently, a new perspective is needed for all of the legal professions so that they can protect themselves from the risks of being targeted by nefarious clients/offenders. To strengthen the role of these advisers, it is recommended that both a code of ethics and know your customer principle to be implemented.
Practical implications
This paper can serve as a resource that explores the functions of lawyers and other professional advisers as reporting parties whose aim is to prevent financial and economic crime in Indonesia.
Originality/value
This paper encourages lawyers, other professional advisers, and public and private institutions to implement a code of ethics, and also integrity and professionalism, with a view to preventing economic and financial crimes. According to the code, the functions and obligations of lawyers and other professional advisers include discouraging such offenses. The code becomes effective when legal professionals adhere to legal ethics and integrity.
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